NSE ROUNDUP: Limited trading days weaken gains by 95%

Fewer trading sessions were conducted this week than the last due to a two-day break on Monday and Tuesday, observed in commemoration of the Ramadan festival.

This had implication for trade, which was comparatively low, and market capitalisation, which, despite returning roughly N33 billion week on week, advanced at a substantially lower pace than the week before, when over N694 billion increase was posted.

All the key market performance indicators closed higher. A positive market breadth was recorded this week as 34 gainers emerged against 21 losers. The All Share Index (ASI) and the Market Capitalisation both advanced by 0.25% to 25,267.82 basis points and N13.168 trillion respectively.

Read also: NSE ROUNDUP: Market gains N694.3bn as volume bettered trade

Trade Volume of 1.255 billion shares worth N13.501 billion was recorded in 20,554 deals this week compared to the 1.718 billion shares valued at N18.849 billion posted in 26,367 deals last week.

On the Activity Chart, the Financial Services sector dominated trade with 953.356 million shares estimated at N8.236 billion traded in 10,931 deals. Specifically, it contributed 75.94% and 61% to the total equity volume and value respectively. The Industrial Goods sector came next, trading 64.245 million shares worth N1.785 billion in 2,000 deals. The Consumer Goods industry followed, trading 62.487 million shares priced at N1.434 billion in 3,427 deals.

As regards Index Movement, all indices climbed up except NSE Meri Value and NSE Oil and Gas Indices, which slid by 2.99% and 0.34% respectively. NSE AseM remained unchanged.

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